Bank Wizard is Experian Payments' unique service and software solution specifically developed to undertake bank account validation. Designed to be embedded easily within existing applications, Bank Wizard uses the most accurate database of bank information available, allowing users to check the validity of bank details at the point of entry. This eliminates errors to submission to the inter-bank clearing system.
Bank Wizard Republic of Ireland supports the IRECC (Irish Retail Electronic Payments Clearing Company) for Direct Debit Plus and and direct credit transfers, IRIS (Irish Real-time Interbank Settlement) for high value, real time payments and TARGET (via IRIS) to facilitate cross-border payments.
Error rates in bank details at the point of capture can be as high as 8% domestically and significantly higher for cross-border payments, resulting in rejected payments that have a direct impact on administration costs and customer service. Bank Wizard can eliminate these problems entirely.
Summary of features
| Checks that the formation of account numbers and bank codes is correct |
| Full modulus checking of bank codes and account numbers for all Irish domestic banks |
| Returns errors and warnings to prevent the submission of invalid bank details |
| Formation of IBANs (International Bank Account Numbers) for valid domestic details |
| Validation of IBANs (International Bank Account Numbers) and BICs (Bank Identifier Codes)* |
| Returns address details, contact numbers and closure information |
| Available for all main operating systems |
*For all 25 EU countries plus Norway, Iceland, Liechtenstein and Switzerland
Click to download the Bank Wizard brochure or Bank Wizard country modules